What is the final stage in a typical performance management program?

• A. Budgeting
• B. Action Plan
• C. Monitor Performances
• D. Review Performance

Answer: (B)

The final stage is turning what you’ve learned from the review into concrete steps the organization will take. An Action Plan translates insights and gaps into specific actions, assigns responsibilities, sets deadlines, and allocates the necessary resources. It closes the loop by creating accountability and a clear path for improvement, with follow-up to check progress and adjust as needed. Ongoing budgeting and monitoring keep things moving, but they aren’t the concluding step, and reviewing performance comes before the plan to ensure you’re targeting the right issues.